In ethereum‘s 8-year history, there have been multiple mysteries that have hit the mainstream. However, one of the most popular is an eth wallet that participated in the ethereum ICO in 2014 and has not seen any activity since.
Dormant ethereum ICO Portfolio Baffles Investors
In February 2023, X (formerly Twitter) user @jconorgrogan took to the platform to reveal A curious ethereum wallet. This wallet, according to Conor, was the only eth wallet that participated in the ICO in 2015 and had not made any transactions since then.
The mystery behind wallet It grew even more when community members discovered that it was carrying a total of 250,000 eth. Records show that the wallet had purchased this huge stash of eth in 2014 for $75,000 and the value of the investment has since appreciated to over $470 million. However, it has not been claimed nor has any coin been sold by the owner.
One of the most mysterious addresses in the entire cryptocurrency world:
-I bought $75,000 worth of eth in the ICO in 2014.
-Completely intact wallet; has never made a single transaction
-The wallet is now worth more than $400 million, a 5333x
-Received $6.5 million in airdrops from hodling alone (an 87x increase in initial investment alone) pic.twitter.com/wBpw9pQcAB-Conor (@jconorgrogan) February 26, 2023
Not only had the wallet seen its initial investment grow exponentially, but it had also earned millions of dollars in airdrops alone. Conor revealed that the wallet had received over $6.5 million in airdrops, which alone was already an 87x return on the original investment.
After this first post, there were a number of theories about what could have caused the investor to not move any of the coins. These ranged from the loss of private keys to the probable death or imprisonment of the owner. However, Conor has finally discovered the real story behind this wallet.
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2023/11/The-Mystery-Behind-the-470-Million-Ethereum-Wallet-ICO-Has" alt="Tradingview.com ethereum Price Chart (Mystery Wallet Revealed)” width=”2650″ height=”1758″/>
eth remains firmly above $1,800 | Source: ETHUSD on Tradingview.com
Estonian banking tycoon loses eth wallet keys
Nine months after the initial tweet, Conor provided a update with an answer to who owns the $470 million eth wallet and why they had not made any transactions. As many speculated, it was actually a case of lost keys, but the owner of the wallet was even more interesting.
Conor posted a screenshot of an interview with the founder of Estonian bank LHV, Rain Lohmus, where he admitted that he had actually lost access to his ethereum wallet containing 250,000 eth. However, Lohmus doesn’t seem too affected by this given that he said he hadn’t actually tried to recover the wallet.
A mystery solved: this address (now containing $450 million in cryptocurrency) belongs to Rain Lohmus, founder of LHV Bank
Unfortunately he lost his keys and cannot access these hundreds of millions. If you can help him get them back somehow, he is willing to split them with you. https://t.co/wYLAU9gKzb pic.twitter.com/0A1nIjFSyn
-Conor (@jconorgrogan) November 6, 2023
The founder of LHV Bank also revealed that he is unable to resolve the issue and recover his eth. Therefore, you are open to sharing offers from anyone you think will be able to access the wallet. However, by his account, Lohmus’ plan is to “build Rain Lohmus as an ai and see if he can recover her memories of him.”
However, the millionaire doesn’t seem too worried about this. “I don’t like things that result in zero or one. You can put in ten years and the result could be zero; You may end up solving a problem, but I prefer to do things where progress is visible daily.”
